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NZ: Raging housing market a headache

Posted on 08 May 2013

Increasing pressure in a housing market where supply is failing to meet demand is posing a growing risk to New Zealand’s financial stability, the Reserve Bank warns. In the bank’s six-monthly financial stability report, released on Wednesday, governor Graeme Wheeler says the country’s financial health is still sound, but growing private sector credit and rising house prices which are already high pose a concern.
The fears have emerged as Auckland and Christchurch stand out as struggling to meet demand for housing and as banks become more tolerant of lending on smaller deposits………………………………………..Full Article: Source


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